Gladstone Land Acquires Farm in Florida for $2.6 Million
MCLEAN, VA - Gladstone Land Corporation announced that it has added a farm in northern Florida to its list of land ag leases. The farm totals 574 acres and was acquired for $2.6 million.
“This acquisition adds another strong tenant and farm growing healthy produce to our growing list of owned and leased farmland,” said David Gladstone, President and CEO of Gladstone Land. “We hope to have several more acquisitions to announce throughout the rest of 2018.”
According to a press release, Gladstone Land assumed a lease that has more than two years remaining on it, with a farming operation growing primarily peanuts and melons.
“We are pleased to acquire our first farm in the Florida panhandle,” said Bill Frisbie, Managing Director of Gladstone Land. “This region has very fertile ground and many strong farm operators who we can partner with to continue expanding our farmland holdings in the region.”
Gladstone Land currently owns 80 farms, comprised of 67,632 acres in 9 different states across the U.S., valued at approximately $563 million. Its acreage is predominantly concentrated in locations where its tenants are able to grow fresh produce such as berries and vegetables, almonds, blueberries, and pistachios.
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